How To Find Best Managed Account Service?
At Forex92 we receive thousands of emails every day from people asking about companies offering best-managed forex accounts. So, today we decided to talk about forex managed account service, its pros & cons and also suggest some methods to find out best companies who offer forex managed accounts services.
Let’s begin our discussion. So, what is meant by forex managed account service? It’s a service in which professional traders are hired to manage investor’s funds for a fee. You need to open an account with a broker or a company who offers a mechanism through which professional traders can trade your account. Usually, companies providing forex managed account services have dedicated teams who are responsible to maintain client’s investments and trade their account.
Before we move ahead explaining further aspects of forex managed accounts, we would like to mention here an important bit that clients should consider before opening an account with any broker or a firm. We refer to many scam brokers and companies out there in the forex world. Therefore, clients need to take extra caution before investing their hard earned money.
Clients can use the internet to find a best reliable company offering forex managed accounts. One such company is Forex92. It works with world’s most reputable brokers to offer forex managed account services. The company was established in 2014 and is based in the USA. It has a team of industry experts and financial analysts. The company offers two special services including forex managed accounts and forex trading signals.
Pros of Forex Managed Account Service
There are countless benefits associated with forex managed account service, some of them are listed below.
A Chance To Make Good Profits – You can earn a good amount of money by investing in forex managed accounts. Due to modern technology, verifying past performance of companies offering forex managed accounts is no more difficult. You can always make sure that if the company you are going to invest in, really worth your investment? Please remember, past performance of a company should not be taken as a guarantee for making profits in future. However, it is always better to invest in a company having good past performance than to invest in a bad performing company.
Bypassing Learning Curve – The learning curve means that you need to go through a long period of learning and practicing forex trading skills. You also need to have a lot of patience to gain fruitful results in forex trading. Bypassing the learning curve and letting forex manager trade your account is a good idea to make reasonable profits. However, starting forex trading on your own without having any “know-how” of the forex world can be disastrous. Therefore hiring services of professional traders is always suggested.
Experience – Experience can only be gained by getting involved in the forex trading on a long-term basis. You come across many “ifs and buts” of forex trading and see many “ups and downs” during your whole course of trading. Since beginners lack experience, therefore, they are more likely to incur losses in forex trading. Getting your account managed by professional forex traders can keep you safe from incurring loses even if you don’t have any previous experience of forex trading.
Emotions – The most difficult factor that even professional traders sometimes feel difficult to deal with is controlling your emotions. It may well be the case that you start winning trade one after another by chance/luck. You may wish to take a bigger risk on your investment on a single trade in the hope of getting maximum return. But all of a sudden the market crashes and all of your investment is lost. Professional traders are well aware of this fact. They won’t go de-tracked following their emotions. Instead, they tend to keep calm & cool and try to act most appropriately.
Time Constraint – Most of the time traders only feel reluctant to invest in forex trading since they don’t have enough time available to do forex trading themselves. Managed forex accounts have solved the issue. You only need to sign a contract with a company offering managed accounts. The rest is done by investment management team of the company.
Cons of Managed Forex Accounts Services
Although forex managed accounts benefits are incomparable, still some flaws need to be considered.
An Absence Of Consistency – It may well be the case that you earn profits more than you expected since the investment manager trading on your behalf is more than expert. But think for a while, what if he gets sick or meet an accident or even dies? All expertise and a hope of profit also disappear with the manager. Resultantly, continuity of service quality is lost.
There could also be another problem and that is you can’t predict future results on the basis of past performance accurately. Sometimes even the most experienced trader incur loses. Especially, if an investment is made during the period when forex market is observing a downward slope, it is very difficult for a trader to make a profit. Nothing can be done in this situation except to back off.
You Become Dependent – A lesson learned is a lesson earned is a famous quote that indicates that it doesn’t matter whether you pass or fail in any field of life, at the end, you learn a lesson that will be with you for your entire life. Same applies to the forex trading, you just add up every experience you gain during the forex trading, and it will somehow bring you benefit in future for sure. But when forex managers are hired, you lose the opportunity to learn and trade forex yourself, so you start depending on professional traders to trade on your behalf, and this is the point you may get exploit too.
Final Words
After a careful research and investigation, we as a result of this conclude that forex managed account services can make traders rich over a short period. The only care that is required to be taken by investors is to research before they decide to open an account with any company. It is suggested to look for a company working with regulated brokers. Forex92 is the company we found quite satisfactory as long as investment in forex managed account is concerned. It provides excellent customer services to its clients round the clock.